The Asgill House Trust Limited
la company limited by guarantee)
Annual report and financial statements
For the year ended 31 March 2024
Company registration number.. 01701275 (England
and Wales1
Charity registration number.. 286270 (England and
Wales)

The Asgill House Trust Limited
Contents
Page
Reference and administrative detai15
Trustees, report
Independent examinerf5 report
Statement of financial activities
Statement of financial position
Notes to the financial ststements
10-16

The A4ill House Trust Limited
Reference and administrative details
For the year ended 31 March 2024
Tru5tee5
P L Hauptfuhrer
Lord Lee of TrafFord J R L Lee
R D Mullet
Dr F Walji
ompany registered number
01701275
Charity registered number
286270
Regisiered office
A5gill House
Old Palaie Lane
Richmond
TW9 IPQ
Independent examiner
Feltons
Chartered Acctsuntants
l The Green
Richmond
TW9 IPL
Bankers
Coutts & Co
440 Strand
London
WC2R OQS

The A$8ill House Trust Limited
Trustees, report
For the year ended 31 March 2024
Th& trustees present their annual report together with the financial statements of The Asgill House Trust
Limited I'the tru5t'l for the Year ended 31 March 2024.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Constitution
The trust is run in accordance with ArticlÈs of Association having principally to do with tho rÈstor3tion and
maintenance of Listed Buildings. The consideration of new trustees is on the basis of professional advice and
person31 recommendatlDn.
The trust is limited by guar3ntee and does not have share capital. All tru5tee5 are rllembers of the trust and
guarantee to contribute £1 in the event of winding up.
AppoSntment of trustee5
Trustee5 are appointed in accordance wlth the trust's Articles of Association which states that there must be a
minimum of two trustee5.
Trustees
The trustees who served throughout the year ended 31 March 2024 and up to the date of approval ol thi5
report w&re'.
P L H3Uptfuh￿r
Lord Lee of Tr3ffoid J R L Lee
R D Mullet
Dr F Walji
OBJECTIVE5 AND ACTIVITIES
Policies and objertive5
The principal objective of the trust is to preserve and maintain A58ill House, Richmond and Turret House.
Windsor. in addition to engaging in related cuStural, environmental and heritage activities.
Public benefrt
The tru5tee5 have given due consideration to the Charity Commisslon publishod guidance on the public benefit
requirement5. The trust constitutes a public benefit entity as defin@d by FRS 102.
A¢hievements and Performance
Our activity during the financial year was dominated by the continuation of the trusvs evolving IDng-term
programme and sustained commitment to the preservation and Maintenan￿ of the trust's heritage assets-
listed buildings of exceptional beauty in high-profile prominent landmark historic settings in important
Conservation Area5.
At Asgill House we continued to carry on hosting a range of charity function5 and meetings and welcoming
variou5 herita8e-focuss@d visitors and guided group visitor5 enjoying learning about the history of the house.
it'5 restoration and Palladian 3rchitecture. The 5ignificanco of Asgill's exceptional architecture is celebrated
and further underlined being the only Sir Robert Taylor design in Vitruviu5 Britannicus, the bible of great Brit15h
Classical Architecture. WÈ continued to carry on hosting local community art groups and art society V15itor5.
and tutor managed educational art student group vi51t5 studying drawing and painting and being inspired by
Sir Robert Taylor'5 Gradel-li5ted architectur31 gem and Asgill's riverside Eardens and the beauty of its historic
setting on Richmond's riverside.

The Asgill House Trust Limited
Trustees, report
For the year ended 31 March 2024
The trust's sympathetic and sensitive restoration of Turret House in Its historically Significant setting continues
to be much enjoyed and admired by the local cornmunity and the many vi5itor5 to Wind9)r throughout the
year, and regularly features during all media coverage of significènt Royal event5 in its prominent position
adjacent to Wind50r Castle and the Long Walk. We continued to welcome the local community to Turret
House for meetings and visits. and to observe and enjoy the spectacular and picturesque views of signifiEant
Royal occasions and parade5 along the Long Walk frorn the eKceptionally special setting of Turret House.
FINANCIAL REVIEW
Result for the year
The results for the year are shown in full within the statement of financial aEtivitie5 at page 7. Overall the
financial result for the year wa5 a net increase in the reserves of £1,062,45312023'. net decrease of £254,262)
to a year-end figure of £9,116,050. This increase 15 largely attributed to the net gain5 on the revaluation,
retranslation and disposal of investment asset5 of £1.009,D3312023.. net losses of £279,698).
Reserve Policy
The level of reserves is monitored and reviewed by the trustee5 at least annually. The trustEe5 believe th3t the
trust should t3rgÈt to hold financial reserve5 sufficient to guarantee normal running of the trust for a period of
not les5 than one year and to support the trust if there were financial difficulties.
Since the majority of a55ets are financial investments there is unlikely to be any delay or shortfall in r&alising
the a55ets into cash if thi5 becomes necessary.
All investments have been acquired in accordance with powers available to the trust. Tho managÈmont of our
investments is handled by the trustees in conjunctlDn with James Sharp & Co with the overriding investment
objective of rnaintaining leve15 of financi31 stability and security in line with our Crown leasehold
cornmitment5.
A5 at 31 March 2024. the trusvs unrestrirted reserves was £9,116,05012023.. £8,053,597). Thi5 fa115 Wlthin the
target Set out in the reserve5 poliry above.
Going concern
After making appropri3te enquiries. the trustees have a reasonable expectation that the trust has adequate
resources to continu& in operational existence for the foreseeable future. For this rea50n, they continue to
adopt the going concern basi5 in preparing the financial Statements.

The Asgill House Trust Limited
Trustees, report
For the year ended 31 March 2024
Statement of trustees, responsibilrties
The trustee5 (who are a150 directors of Asgill House Trust Limited for the purposes of Company lawl are
responsible for preparing the trustees. Report lincorporating the strategic report and directors, r&portl and the
financial staternenis in aCCDrdance with applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of
Ireland Iunited Kingdom Generally Accepted Accounting Prarticel.
Cotnpany law requires the trustees to prepare financial statement5 for each financi31 year which give a true
and fair view of the state of affairs of the tfUSt and of the income and expenditure of the trust for that period.
In preparing these financial statements, the trustees are required to..
select suitable accounting policie5 and then apply them con51Stentlv,'
observe the methods and principle5 in the Charities SORP IFRS 1021,.
make judgments and accounting estimates that are reasonable and prudent..
state whether applicable UK Accounting Standard5 have been followed. subject to any material departures
disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disc105e with reasonable
accuracy at 8ny time the financial position of the charitable company and enable them to ensure that the
financial statements comply with the Cornpanies Act 2006. They are also responsible for safeguarding the
assets of the trust and hence for taking reasonable 5tep5 for the prevention and detection of fraud and other
Thi5 report was approved by the trustees and Signed on their behalf bv..
P L Haupttuhrer
Lord Lee of Trafford J R L Lee
Trustee
Trustee
Date..
17112/2024
Date..
1711212024

Independent eKaminerf5 report to the trustees of The Asgill House Trust Limited
For the year ended 31 March 2024
Independent examiner's report to the trustees of The Asgill House Trust Limited I'the tru5VI
I report to the trustees on my examination of the financial statement5 of the trust for the year ended 31 March
2024.
Responsibilities of basis of report
As the trustees of the trust land also it5 directors for the purposes of company lawl, you are responsible for th&
preparation of the financial statements in accordance with the requirements of the Companies Act 20061'The
2006 Act'l.
Having satisfied myself thatthe financial statements of the trust are not required to be 3uditÈd under Part 16 of
the 2006 Act and are eligible for independent examination. I report in respect of my exarnination of your trust'5
financial statements as carried out under section 145 of the Charities Act 20111'The 2011 ACYI. In carrying out
my examination I have followed the directions Biven by the Charity Commission under section 14515llbl of the
2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have corne to my attention in Connection with mv
examination giving me cause to belleve..
accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act. or
the financial 5tatement5 do not accord with those records.. or
the financial statement5 do not cornply with the accounlinB requirements of sectSon 396 of the 2006 Act
other than any requirement that the financi31 statement5 give a 'true and fair view, which 15 not a matter
considered ag part of an independent examination- or
the financial statements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities preparing their account5
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021.
I have no concerns and have come acr055 no other matters in connection with the examination to which
attention should be drawn in this report in order to enab5e a proper understanding of the accounts to be
ached.

Independent examinerf5 report to the trustees of The Asgill House Trust Limited
For the year end&d 31 March 2024
Th55 report is made solely to the trustees, as a bodyi in accordance with Part 4 of the Charities (Accounts and
R￿ports) Regulations 2008. My work has been undertaken $0 that I might st3tÈ tts the trustees those matters I
am ￿quired to State to thÈm in an independent examinerfs report and for no other purpose. To the fullest extent
permitted by law, I do not zccept or assumE responsibility to anyone other than the trust and the tru5tee5 as
body, for my work or for this report.
Signed
Richard Rhodes Chartered Accountant
Feltons
Chartered Accountants
l The Green
Richmond
Twg IPL
Date:

The Asgill House Trust Limited
Statement of financial activities lincorporating income and expenditure account)
For the year ended 31 March 2024
UnrestriLted
Total
Total
funds
funds
funds
Note
2024
2024
2023
Income & endowment5 from=
Oonations & legacies
Investment income
1,450
74,977
76,427
158,202
IS8.202
158,202
158,202
Total income
Expenditure on..
Raising funds
Charitable activities
32.374
65,562
97,936
32,374
65,562
97,936
38,421
45,1È1
83,602
Total expendlture
Net incomellexpensel before
8ains111055esl
60,266
60,266
17,1751
Net gain/llos51 on 5a1e of investments
Net gain/llos51 on revaluation of fixed
asset investments
16,289
16,289
1157,7551
1,083,992
1,083,992
1396,8991
Net11055l/gain on retran51ation of fixed
asset investments
191,2481
191,2481
274,956
Other Ilossl/gain on foreign currency
tran51ation5
16.8461
16,8461
32,611
Net movement In funds
1,062,453
1,062,453
1254,2621
Reconciliation of funds:
Total fund5 at 31 March 2023
8,053,597
8,053,597
8,307,859
8,053,597
Total funds at 31 March 2024
14
9,116,050
9,116,050
The Statement of financial activities Includes all gains and losses recognised in the year.
All of the trust's activities derived from continuing operations during the year.
The notes on pages 10 to 16 form part of these financial statements.

The Asgill House Trust Limited- Registered number: 01701275
Statement of financial position
For the year ended 31 March 2024
2024
2023
Note
Flxed assets:
Tangible a55etS
Heritage assets
Investments
io
3,049
752,436
7.797,384
8,55U69
3,387
752,436
6,928,012
7,683,835
li
12
Current asset5
Cash at bank and in hand
S69392
377,466
Creditors.. amounts falling due wtthtn one year
13
16,2111
17,7(Hl
Net current assets
563.181
369,762
Total assets less current liabllltles
9.11$￿50
8.053,597
Total net assets
9.116.050
8.053,597
Trust funds
Unrestricted fund
General fund
14
7.302.275
1.813.775
7.234.203
819.394
Revaluation reserve
14
Total funds
9.116.050
8.053,597
The trustees consider that the trust is entitled to exemption from the requirement to have an audit under the
provisions of section 477 of the Companies Act 2CK161'thÈ Act'l and members have not required thetrustto
obtain an audit for the year in question in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirement5 of the Companies Act
2006 with respect to accounting records and for preparing financial statements which give a true and fair view
of the state of affair5 of the charitable company a5 at 31 March 2024 and of it5 income and expenditure for the
year in accordance with the requirements of section5 394 and 395 of the Act and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial 5taletnents, $0 far as applicable tts the trust.

The As8ill House Trust Limited
Statement of financial position Icontinuedl
For the year ended 31 March 2024
The financial statement5 have been prepared in 3tcordance with the special provisions applicable to small
companie5 Within Part 15 of the Companies Act 2006 and in accordance with FRS 102.
The financial 5taternent5 were approved by the trustees and signed on their behalf by..
P L Hauptfuhrer
Lord Lee of Trafford J R L Lee
Trustee
Trustee
Date..
1711212024
Date:
1711212024
The notes on page5 10 to 16 form part ofthese financial ststements.

The Asglll House Trust Limited
Notes to the financial Statements
For the year erided 31 March 2024
General infomiation
The Asgill House Trust Limited is a priv8te company limited by guarantee and is incorpor3ted in England
and Wales. In th& event of the trust being wound up, the liability in respÈct of the guarantee 15 limited
to £1 per member of the tru5tr. It5 registered office and principal place of busine55 15 Asgill House. Dld
Palace Lane, Richmond, TW9 IPQ. The ¢ompany registration number is 01701275 and thÈ charity
number is 286270.
Accounting Policres
Basis of Pfeparation of financial statements
The financial statements have been prepared in acmrdance with the CharSties SORP IFRS 1021
AccountinE and Reporting by Charitie5.' Statement of Recomrnended Practice applic3ble to charities
prep8ring their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (effective l January 20191, the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021 and the Companies Att 2006.
The financial statements have been prepared under the historical cost convention, with the exception
of investments, which are included on a fair value ba51S.
The trust constitutes 3 public benefit entity as defined by FRS 102.
The financial Statements are presented in GBP 1£) and are rounded to the nearest pound.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial staternent5 are as follow5..
Going cOn￿rn
After making appropriate enquiries, the trustees have a reasonable expertation that the trust has
adequate resources to continue in operational existence for the foreseeable future. For this reason, the
trust will continue to adopt the going concern basis in preparing the financial statements.
Fund accounting
The general fund is an unrestricted fund which is available for use at the discretion of the trustees in
furtherance of the general objective of the trust.
The revaluation reserve 15 an unrestricted fund and represents the unrealised increase in market value
above original cost on listed investrnents held at the end of the financial period.
Income
The compan¢s income con51Sts of donations, lettinES, and investment income on a receivable basis. All
income is recognised in the Statement of financial activities when the trust has entitlernent to the
income. it is probable that the income will be received, and the amount of income receivable can be
[neasu￿d reliably.
io

The Asgill House Trust Limited
Notes to the financial statements Icontinuedl
For the year ended 31 March 2024
Expenditure
liabilitie5 are recogriis&d as expenditure as soon as there is a legal or constructive obligatlon committing
the trust to make a payment to a third party or it 15 probable that a transfer of econormic benefits will be
required in settlement and the amount of the obliEation can be measured reliably. All expenditure is
stated inclusive of VAT.
All expenditure 15 accounted for on an accruals basis. Expenditure cornpr5se5 dirert costs and support
Costs. All expense5, including support costs. relate to the charitable activitie5 of the trust.
2.6 Tangible fixed assets
Depreciation is provided at tho following annual ratÈs in Drder to wrilE off the cost les5 e5tirnated
residual value of each asset over its estimated usefL41 life.
Fixture5 and fittings
IO% on reducing balance
Garden equipment
25% on straight line
Heritage asset5
The leasehold propertie5 are recorded at historical cost less accumulated impairment. No charge to
depr&tiation has been made in respect of the histori¢ )ss&ts be¢aus? the prDperties are maintained to a
high standard as part of the objectives of the trust and any depreciation would, in the opinion of the
trustees. be immaterial because of the long-expected life of the properties.
At each reporting date the trust a55e55e5 whether there 15 any indication of impairrnent. If such
indication exist5, the ￿coVerable amount of the asset is detertnined to be the higher of Its fair value less
costs to sell and its value in use. An impairment Ios5 15 recognised where the carrying amount exceeds
the re¢overable amount.
Fixed asset investment
Fixed asset investments are 3 form of financial instrument and are initially recognised at their
transaction cost and subseouently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it 15 rneasuied at cost less impairment. Investment gains and
losses, whether realised or unrealised, are cornbined and presented a5'Gains/lL055esl on investments,
in the Statement of financial activities.
Debtor5
Trade and other debtDrs are recogni5ed at the settlement amount after any trade discount offered and
net of any provision. Prepayments are valued at the net amount prepaid.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a Short maturity of
three months or lÈss from the date of acqui51tion or opening ol the deposit or similar account.
li

The Asgill House Trust Limited
Notes to the financial statements {continued)
For the year Ènded 31 Mar¢h 2024
2.11 Liabilities
Liabilities are recognised when there is an obligation at the reporting date as a result of a past event. it
is probable that a tr3nsfer of economic benefit will be required in 5ettlErnent, and the amount of the
settlement can be e5tirrated reliably. Liabilities are recognised at the amount that the trust anticipate5
it will pay to settle the debt or the amount it has received a5 advanced payments for the goods or
5ervice5 il tnu5t provide.
2.12 Foreign currenclos
Monetary assets and liabilitie5 denorninated in foreign currencies are translated into pound5 at rates of
exchange ruling at the balancE sheet date. Transaction5 in foreign currencie5 are translated
into pounds at tho rate ruling on the date of the transaction. Exchange gains and losses are reco8ni5ed
n the Statement of financial activities incorporating incorne and expenditure account,
2.13 Financial instruments
Financial asset or a finan£ial liability is recogni5ed only when the entity becomes a party to the
contractual provisions of the instrument. The trust only ha5 financial a55ets and financi31 liabilitie5 of a
kind that qualify as basic financial instrurnent5. Basic financial instruments are initially recognised at
transaction value and 5ub5equently measured at their 5ettlernent value with the exception of bank
loans which are subsequently measured at amortised cost Using the effective interest rnethod.
Where investments in shares or preference 5hare5 are publicly tr3dÈd or thoir fair value can otherwise
be measured reliably, the investment is subsequently measured at fair value with changes in lair value
recogni5ed in income and expenditure. A11 other such investments are subsequently measured at cost
less impairment.
Donations & legacies
Unrestrirted
funds
2024
Total
tunds
2024
Total
fund5
2023
Letting income
1,450
1,450
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
fund5
2023
Bank interest
Dividends
Other income
4,940
143.187
10,075
158,202
4,940
143,187
10,075
158,202
1,853
71,996
1.128
74,977
12

The Asgill House Trust Limited
Notes to the financial statements {continued)
For the year ended 31 March 2024
Raising funds
ijnrestricted
funds
2024
Total
fund5
2024
Total
funds
2023
Investtnent management CDSts
32,374
32.374
32.374
32,374
38,421
38,421
Charitable artivities
Unrestricted
funds
2024
Total
fund5
2024
Total
funds
2023
Maintenance costs
Council tax and water
Ground rent
Light and heat
Insurance
Repairs. maintenance & housekeeping
relephon
6,939
200
21,304
18.634
7,630
2,257
56,964
8,598
65,562
6,939
200
21,304
18,634
7.630
2.257
56,964
8,598
65.562
6,645
200
4,208
16.844
6,049
2,144
36.090
9,091
45,181
Support C05t5 Inote 71
Total
Support costs
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Support costs
Depreciation
Bank charges
339
1,659
1,998
339
1,659
1,998
377
2,912
3,289
Governance costs
Accountancy & independent examination
fees (note 91
6,600
6.600
8,598
6,600
6.600
8,598
5,802
5,802
9,091
Total
13

The Asgill House Trust Limited
Notes to the financial Statements Icontinuedl
For the year ended 31 March 2024
Trustee5' remuneration
During the year, no trustees received any remuneration or other benefit512023 £nill.
During the year, no trustee expenses have been incurred12023- £nill
Accounting & independent examination costs
2024
2023
Accountanry fee
Independent examination fee
4.920
1.680
6.600
3,900
1,902
5,802
io.
Tangible Asset5
Furniture & Fittings
Turret House
Asgill House
Garden
Equipment
Z024
Total
2024
2024
Cost
At l April 2023
Addition5
At 31 Ma￿h 2024
150,673
77,338
874
228,885
150,673
77.338
874
228,885
Depreciation
At l April 2023
Charge for the year
At 31 March 2024
150,3B2
29
ISO.411
74,Z41
310
874
225.497
339
225,836
74,551
874
Net book value
At 31 March 2024
262
2,787
3,049
At 31 March 2023
291
3,097
3,388
ii.
Heritage assets
Turret House
A5gill House
Total
Carrying amount as at l April 2023 and 31
March 2024
419,919
332.S17
752.436
There havo been no movements in the carrying valu@ of the heritage assets in the last five years.
14

The Asgill House Trust Limited
Notes to the financial statements Icontinuedl
For the year ended 31 March 2024
12. Investments
Listed
equity
2024
Unlisted
equity
2024
Market
valve
Mark&t
value
2023
2024
UK- Investment- Coutts
Market value at l April 2023
Additions
Disposals
Incre3se/ldecre35el in market value
Market value at 31 March 2024
1684,422
211,241
12,937,226)
41,563
2,684.4ZZ
211,241
12,937,2Z61
41,563
2,820,125
1,799,635
11,862,441)
172,8971
2,684,422
Listed
equitv
2024
Unlisted
equilv
2024
Market
value
Z024
Market
value
2023
UK- Investment- James Sharp & Co
Market val￿e at l April 2023
Additions
Disp05als
Increase in market value
2,871,637
1199,4061
317,388
2,989,619
2,871.637
1199,4061
317.388
2,989.619
Market value at 31 March 2024
Listed
equwty
2024
Unlisted
equity
2024
Market
value
2024
Market
valu&
2023
US- Inve5tment- BBH
Market vaSue 3t l April 2023
Addition5
4,051,132
51.377
1146,4451
709,247
191,2481
4,574,063
192,4S8
25,450
4,243.590
76.827
1146,44SI
725,041
191,2481
4.807.765
4.169,795
362,896
1240,0551
1324,0021
274,956
4.243,590
Di5P05als
Increaselldecreasel in market value
ILossl/gain on exchange
Market value at 31 Mar¢h 2024
15,794
233,702
Toial Investments market value
7,563,682
233,702
7,797,384
6,928,012
13. Creditors: amounts falling due within one year
2024
2023
Creditors
Accruals
1.902
5.802
7.704
6,211
6,211
15

The ASEIII House Trust Limited
Notes to the financial Statements (continued)
For the year ended 31 March 2024
14.
Analysis of funds
Unrestricted
general fund
Revaluaiion
reserve
Total
Balance a5 at l April 2023
Income
Expenditu
Net Ilossl/gain on investment assets
Tran5fEr between funds
Balance a5 at 31 March 2024
7,234.203
158.202
197,9361
181.8051
89,611
7,302,275
819,394
8,053,597
158,202
197,9361
1.002.187
1.083.992
189,6111
IA13,775
9,116,050
The trustee5 have reviewed the level of the general fund and have concluded that it 55 Sufficient to
cover contingencies. A separate Contingency Fund wa5 deemed unnecessary.
15.
Analysi5 of net asset5 between fund5
Unrestricted
Eeneral fund
Revaluation
reserye
Total
Tangible fixed assets
Heritage assets
Investments
Curront assets
3.049
75Z,436
5,983,609
569,392
16,2111
7,302.275
3.049
752,436
7,797,384
569,392
16,2111
9,116,050
1,813,775
Balance as at 31 March 20Z4
1,813,775
16.
Capital commitments
At the balance sheet date there were no outstanding commitments for capital expenditure.
17.
Related party transactions
There were no related party transactions during the year.
16